Moving from project-by-project approach to long term investment pathways for Water

Main objective : This side event aims to mobilize partners on key Flagship initiatives to be announced during the Interactive Dialogue F on “Investment for Water”. It will hence create momentum and launch political outcomes to catalyse a common vision on priorities to enable long term investment pathways that are sustainable, inclusive, and equitable. 

Rationale : Investments for water are essential for sustainable development as they positively impact economic growth, health, food security, climate resilience, environmental preservation, social equity, jobs, and achievement of all SDGs. Financing for water must move beyond fragmented short-term projects: there is a need for integrated national investment programmes supported by governance reform and long-term planning across all water needs.

To that end, high level political mobilisation and commitments are critical to advance investments for water, based on improved water governance at all levels, high-level national prioritizing, regulatory frameworks, capacity building and the creation of an environment conducive to investments that benefit all. A strong political leadership is a prerequisite to unlock financing at scale and to ensure alignment between national water priorities, climate objectives and development strategies. Such approaches are also viewed as providing greater certainty and assurance for investors, improving coordination among stakeholders, and creating opportunities for long-term impact. Coordination mechanisms are key for bringing multi-stakeholder platforms that will pull together various funding from various sectors to help leverage co-financing arrangements. They are also key to supporting implementation, development of coherent pipelines, policy dialogue, technical assistance, and knowledge sharing.

Several initiatives, such as the Head of State Initiative led by SWA, Water Forward led by the World Bank, Country platforms led by the Green Climate Fund, represent first steps in shifting toward programmatic approaches on water governance and planning across sectors and policies. The UN26WC is the opportunity for future announcements in these initiatives.